Bitmine (BMNR) Stock Surges 8% on $10.4B Ethereum Holdings Disclosure

Key Highlights

• Bitmine Immersion Technologies (BMNR) shares climbed 8.3% Monday following disclosure of 5.62 million ETH holdings worth $10.4 billion
• The firm controls 4.66% of Ethereum’s circulating supply, reaching 93% completion of its “Alchemy of 5%” strategic goal
• The company secured $274 million via a 9.50% Series A Perpetual Preferred Stock offering to fund additional ETH purchases
• Last week saw the acquisition of 76,881 ETH valued at approximately $136 million, down from 126,971 ETH purchased the previous week
• The company holds the world’s largest Ethereum treasury and stands as the second-largest corporate crypto holder after Strategy (MSTR)

Bitmine Immersion Technologies (BMNR) experienced an 8.3% share price surge Monday following the company’s announcement of its 5.62 million ETH token position, currently valued at $10.4 billion.

Bitmine Immersion Technologies, Inc., BMNR

The announcement triggered one of BMNR’s most significant single-session rallies this year, coinciding with a 9.23% gain in ETH/USD for the day.

According to Bitmine, its position accounts for 4.66% of Ethereum’s total circulating supply of 120.7 million tokens. This achievement places the firm at 93% completion of its “Alchemy of 5%” objective — a strategic target the company has pursued since initiating its Ethereum accumulation strategy approximately 11 months ago.

Chairman Thomas Lee projected that Bitmine will surpass the 5% benchmark within the current calendar year.

Of the total 5.62 million ETH portfolio, 4,718,677 tokens are actively staked, representing $8.1 billion at the June 14 price of $1,718 per ETH. The company anticipates annualized staking rewards of approximately $219 million, with present annualized staking income estimated at $226 million based on a 7-day yield of 2.79%.

The company’s balance sheet also includes $502 million in cash and marketable securities, a $180 million equity position in Beast Industries, and an $88 million holding in Eightco Holdings (ORBS).

Capital Injection Drives Continued Accumulation

During the previous week, Bitmine purchased 76,881 ETH — representing approximately $136 million at present market rates. This marks a decrease from the preceding week’s acquisition of 126,971 ETH, which represented the company’s largest single-week purchase in 2026.

The acquisition activity followed immediately after the company finalized a $274 million preferred stock transaction on June 10. Bitmine issued 3.5 million units of 9.50% Series A Perpetual Preferred Stock priced at $80 per unit, generating net proceeds of approximately $273.8 million after associated costs.

The preferred shares, which commenced NYSE trading under ticker BMNP on June 16, distribute weekly cash dividends — a financing approach similar to mechanisms employed by Strategy (MSTR), the prominent bitcoin treasury corporation.

Bitmine’s Position Relative to Strategy

Bitmine currently holds the distinction of operating the world’s largest Ethereum treasury and maintaining the second-largest corporate cryptocurrency position overall. Strategy (MSTR) maintains the leading position with 845,256 BTC worth $54 billion.

Strategy’s preferred equity approach has attracted recent examination from market participants, with stakeholders questioning the sustainability of expanding dividend obligations. Lee has highlighted Bitmine’s staking revenue as a critical distinction — generating consistent cash flow that he asserts enables preferred dividend payments without exclusive dependence on capital market transactions.

Bitmine also earned recognition on the Fortune Crypto 100 roster for 2026, a compilation identifying influential organizations in the blockchain sector.

The company’s 9.50% Series A Preferred Stock launched NYSE trading under ticker BMNP on June 16, 2026, with weekly dividend distributions commencing from that date.

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